By GB News (World News) | Created at 2025-03-06 20:11:03 | Updated at 2025-03-06 23:01:48
2 hours ago
President Donald Trump has delayed the imposition of tariffs on imports coming from Canada following stock market turmoil over a potential trade war.
Earlier today, Trump signed an executive order to life the 25 per cent tax for all goods compliant under the United States-Mexico-Canada-Arrangement (USMCA), CNBC reports.
However, all imports not compliant with USMCA will still see 25 per cent tariffs, as well as 10 per cent levies on energy.
White Officials shared that roughly 50 per cent of Mexican imports, 62 per cent of Canadian imports are not compliant with the trade arrangement.
As such, the price of goods for many American consumers are expected to to increase in the interim period, according to economists.
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The Trump administration has cited tariffs, which are taxes on goods coming into the country, as being essential to the US economic agenda.
However, the President appears to be pushing back the deadline for when tariffs will be launched, with the levies on Mexico also being delayed until April 2.
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